In February 2015, Genticel licensed, to Serum Institute of India Ltd. (Serum Institute) GTL003, its Vaxiclase technology for use as an antigenfor use in the development of acellular multivalent combination vaccines containing pertussis antigens.

Serum Institute of India (www.seruminstitute.com) is a private company valued at over $12 billion and the world's largest producer of the Measles and DTP group of vaccines. Two of every three children immunized globally are vaccinated with a product manufactured by Serum Institute.

The license granted by Genticel to Serum Institute provides GTL003 for its inclusion in multivalent vaccines that also protect against Bordetella pertussis, the causative agent of whooping cough. The license covers all countries of the world except major pharmaceutical markets, in particular the USA, Canada, New Zealand, Australia, Japan, Israel, Turkey and greater Europe.

In exchange for the access and use of GTL003 in the licensed indication, Genticel is eligible for up to $57 million in upfront, development & sales milestone payments from Serum Institute, as well as single digit royalties on net sales.

In November 2016, the last preclinical milestone in the partnership was reached, opening the path to formal preclinical testing prior to clinical development and subsequent commercialization.